Fraud Headlines

2015 Articles

Lucie Tondreau, a community activist who made political history in North Miami and was a symbol of hope for many in her community, was sentenced to 65 months in prison on Tuesday by a federal judge for her role in an $11 million mortgage fraud scam. (Miami Herald)

Bank of New York Mellon admitted to a “statement of facts” on Thursday that alleged the bank misrepresented the pricing and execution of foreign exchange trades it made on behalf of clients over the course of multiple years. (Forbes)

Legislators approved a bill that would establish a state-run registry for convicted white collar criminals to combat Utah's high level of affinity fraud, which occurs predominantly among members of the LDS faith. (Salt Lake Tribune)

A massive spike in the use of services such as TurboTax has coincided with deep cuts to the Internal Revenue Service, which along with state taxation authorities has struggled to adapt to the rising sophistication of online criminals. (Washington Post)

The rash of massive data breaches across the United States is driving a new era of electronic tax fraud that has caught Congress’s attention and left consumers wondering if their tax information is safe. (The Hill)

A Long Island lawyer who led a huge scheme to defraud the Social Security Administration pleaded guilty, receiving a reduced sentence in return for promising to help federal investigators find other people cheating the disability insurance system. (New York Times)

Africa loses at least $50 billion a year to illicit practices like tax fraud, corruption and organized crime, a worrying situation that is hurting the continent’s economies, a UN-mandated study group warned Sunday. (Al Arabiya)

Standard & Poor’s, the credit rating agency blamed for helping inflate the subprime mortgage bubble, has settled accusations that it orchestrated a similar fraud years after the bubble burst. (New York Times)

The United Kingdom’s Serious Fraud Office said it has closed its investigation into the circumstances surrounding Hewlett-Packard’s $11 billion acquisition of the British software firm Autonomy. (Re/Code)

Six people involved in the complicated scheme were USD football players at the time, and another had once been on the track and field team and impeached as USD's student government president over allegations of misused funds. (Huffington Post)

Under this particular scheme, Abreu, who worked at the time as a fraud investigator with the New York City Human Resources Administration (yes, he was a fraud investigator allegedly committing fraud), sold identifying information of minors, including names, dates of birth, and Social Security numbers. That information was then used to file thousands of fraudulent tax returns, resulting in millions of dollars of losses. (Forbes)

The Melbourne man at the centre of an alleged $110 million mortgage fraud holds a senior position in one of the country's largest mortgage brokerage networks, raising concerns that the true scale of the potential financial losses is yet to be known. (Sydney Morning Herald)

This year, there will be an important change in the way Americans use their credit cards. More banks will be issuing cards with small computer chips, a move they say will protect against credit card fraud. (NPR)

A tipster walked into the FBI’s South Florida office a few years ago to complain that young cyber criminals in the North Miami area were using something called a “key” in street lingo to steal people’s identities. (Miami Herald)

The clock is ticking for the Madoff Five. In just a few minutes, it will be 2015—the year that the only employees of Bernard L. Madoff who have been convicted of crimes at trial will begin serving out their prison terms. (Forbes)